Lender Processing Services, Inc.

Action Date: October 5, 2010
Location: Jacksonville, FL

On October 4, 2010, Lender Processing Services, a company that is an integral part of the foreclosure process in most states, issued a press release to correct press “mischaracterizations.” The LPS press release was factually inaccurate. LPS claimed that only two lenders/servicers were affected by its forgery problem (referred to in the press release as “varying signature styles”). In reality, these forged documents were used by eight major banks to establish ownership of mortgages in hundreds of thousands of foreclosure cases: Bank of America; Bank of NY/Mellon; CitiBank; Deutsche Bank; HSBC; JP Morgan Chase; U.S. Bank and Wells Fargo. As for the LPS claim that its Docx employees have not executed substantive Affidavits on behalf of clients since 2008, in reality there are hundreds of Lost Note Affidavits signed by Docx employees in Florida alone throughout 2009 and 2010. While fraudulent Assignments may no longer come from the LPS Alpharetta office, the LPS offices in Mendota Heights, MN, and Jacksonville, FL, continue to produce Assignments in thousands of cases that certify that trusts acquired mortgages months AFTER foreclosure actions were filed by the trusts and years after the closing date of the trusts. Despite the statements in the LPS press release, it is clear LPS is at the heart of the foreclosure fraud morass.

Lynn Szymoniak